Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how the IRS is being faulted for lacking data security when it comes to authenticating taxpayer identities. In addition, the IRS is issuing a number of letters to preparers, and Yahoo! News provides the “top five” personal finance stories of 2015.
IRS Faulted Over Taxpayer Authentication
The Internal Revenue Service needs to beef up its data security by improving how it authenticates taxpayer identities, according to a report by an in-house watchdog.
RPO Advisory Letters to Mail Soon
The IRS Return Preparer Office announced that it will mail practitioners these letters on Tuesday, Dec. 29.
Appeals Slowing Down SEC’s ‘Fast-Track’ Process
The median time for the SEC to decide appeals of the in-house judges’ decisions has increased to 19 months, according to a new report.
PCAOB Webinar to Offer Update on Inspections of Broker/Dealer Audits
The Public Company Accounting Oversight Board’s first 2016 webinar will cover the latest findings in the board’s interim inspection program for auditors of brokers and dealers.
GASB Issues Guidance on Investment Pools
The Governmental Accounting Standards Board has issued guidance on how certain state and local government external investment pools and participants in external investment pools may measure and report their investments.
In an M&A Boom Year, Deals-Driven Hedge Funds Are Burned by Bad Bets
This year, betting on corporate takeovers and restructurings should have been a sure thing for investors as the value of deals soared to record levels. It didn’t work out that way, according to this Reuters article.
The 5 Most Inspiring Personal Finance Stories of 2015
Yahoo! News is offering their take on the top five most inspiring personal finance stories of 2015.